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Dormant Bitcoin Wallets Wake Up After 16 Years, Moving $6.9 Million
Two Bitcoin wallets that had been inactive since 2010 transferred 100 BTC, worth about $6.9 million, on Friday. The movements bring early mining rewards back into circulation and add to a wider rise in activity among long-dormant Bitcoin wallets, though transfers alone do not show that the coins have been sold.
The two 50 BTC rewards came from blocks mined on 8 and 19 September 2010, when Bitcoin traded for an estimated five to seven cents per coin. At Friday’s price of roughly $68,800, their value had risen about 1.15 million-fold, but that represents price appreciation rather than realised profit. Each transfer cost around 75 cents in fees, and the coins had not moved again by 14:00 UTC; who controls the receiving wallets and why the transfers were made remain unknown.
In short
- Two wallets dormant since 2010 moved 100 BTC worth about $6.9 million.
- The rewards were mined when Bitcoin cost roughly six cents per coin.
- No sale has been identified, and the owners’ reason for moving the coins is unknown.